Global Software Simulation Market Report 2021-2026 – Possibilities of high spending on simulation in aviation, health and defense – ResearchAndMarkets.com

DUBLIN – (BUSINESS WIRE) – “Software simulation market by components (software (FEA, CFD), services), application (cloud, local), application (manufacturing engineering, research and development and gamification), vertical (automotive), Healthcare and pharmacy), and the report Region – Global Forecast to 2026 “was added” ResearchAndMarkets.com’s offer.

The global simulation software market is expected to grow from an estimated value of $ 12.7 billion in 2020 to $ 26.9 billion by 2026, at a compound annual growth rate (CAGR) of 13.2% from 2020. by 2026..

The simulation software market is driven by various factors, such as reducing production costs and training costs, using advanced simulation technologies, and avoiding the production of defective products to drive the growth of the simulation software market worldwide during the forecast period. However, the complexity of software integration and increasing data security concerns may hinder growth.

The professional services segment will grow at a higher CAGR over the forecast period

Professional simulation software services include consulting services, training services, engineering and integration services, and support services. These services play a crucial role in the efficient and effective design and implementation of simulation software.

Consulting services, such as 3D data visualization and simulation selection, ensure fast and low-risk execution of the simulation. Engineering and integration services are key use cases of research and development in all industries, such as automotive, mining and healthcare. Training services are vital components of simulation services. Helps engineers and product owners understand the operation of products in real-time scenarios.

This is a basic and critical service for verticals, such as aviation and defense, shipbuilding and marines, chemicals and automobiles. Support and maintenance services include technical support, knowledge sharing and software upgrades. Support and maintenance services are offered to the customer of simulation and analysis software as a separate contract by the support team. These services are offered to meet customer needs for simulation and analysis.

The assumed segment that will take a larger market share over the forecast period

On the end user side, simulation and analysis technology must be installed or integrated to create a virtual environment for design, PLM, verification, and validation. Local application is the primary method that companies provide to their employees for security reasons. Local application of simulation and analysis technology helps maintain its privacy. However, installing simulation and analysis technology is a complex process because it must be integrated with the complex infrastructure of organizations.

The Asia Pacific will grow at the highest rate over the forecast period

The Asia-Pacific Simulation Software Market (APAC) is expected to grow at its highest CAGR over the forecast period. APAC has the potential to grow in the simulation software market. APAC is expected to witness great growth opportunities in the manufacturing and IT sectors over the forecast period. The existence of a large population, the development of infrastructure and technology and the wealth of resources are the main factors contributing to the growth of the simulation software market in the region.

The governments of India and China are accelerating the manufacturing sector to develop and test cars, IT products and solutions and defense equipment. High market growth is also expected due to technological progress and the use of simulation and analysis technology.

The rapid expansion of the domestic market, as well as global companies in the region, is also an important factor in the growth of the simulation software market in the region.

Market overview and industry trends

Premium Insights

  • Reduce production costs and training costs to encourage market growth

  • The software segment will retain a larger market size during the forecast period

  • The finite element analysis segment that will have the largest market size during the forecast period

  • The health and pharmaceutical segment and the Asia-Pacific region will grow at high growth rates during the forecast period

  • The Asia-Pacific region will emerge as the best market for investment in the next six years

Drivers

  • Reduction of production costs and training costs

  • Use of advanced simulation technologies

  • Avoiding the production of defective products

Restrictions

  • Complexity in software integration and increasing data security concerns

Opportunities

  • High spending on simulation in aviation, health and defense

Challenges

  • Lack of standard scales for measuring results

Use cases

  • Case of use: Siemens

  • Use case: Anylogic

  • Use case: Createasoft

Regulatory landscape

  • German Civil Code

  • Organization for Simulation Interoperability Standards (Siso)

  • International Association of Clinical Simulation and Learning Nurses (Inacsl)

  • Open Geospatial Consortium (Ogc)

Technology analysis

  • Digital Twins

  • IoT and Iiot

  • Artificial intelligence and machine learning

  • Augmented reality and virtual reality

  • 5G

Mentioned companies

  • Altair Engineering

  • Ansys

  • Anylogic

  • A priori

  • Autodesk

  • Aveva

  • AVL List GmbH

  • Bentley system

  • Certara

  • Cesim

  • Comsol

  • Cybernet

  • Dassault Systems

  • Flexisim

  • Honeywell

  • Keysight Technologies

  • Mathworks

  • Mosimtec

  • MSC software

  • Presagis

  • Please

  • PTC

  • Ptv Group

  • Flexible networks

  • Siemens

  • Simio

  • Simscale

  • Simul8 Corp

  • Spirent Communications

  • Synopsys

For more information on this report, visit https://www.researchandmarkets.com/r/r1v9go

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